PBOC sets USD/ CNY reference rate for today at 6.4605 (vs. yesterday at 6.4823)
People's Bank of China set the onshore yuan mid-rate for the trading session ahead.
Reuters estimate from their survey was 6.4531, Bloomberg 6.4510So, the PBOC set the onshore yuan quite a bit weaker than was expected in those two surveys.
PBOC add in 2bn yuan through 7-day RRs in open market operations
PBOC add in 2bn yuan through 7-day RRs in open market operations
- 10bn mature today
- thus a net 8bn drain